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Required information Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information applies to the questions displayed below. The following financial statements and additional information are reported IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets $ 97,900 89,000 79,800 6,000 272,700 140,000 60,000 67,000 110,500 8,600 246,100 131,000 (35,000) (17,000) $377,700 $360,100 Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings 41,000 54,000 18,200 7,000 79,200 46,00076,000 155,200 7,600 5.000 53,600 99,600 176,000 26,10028,900 $377,700 $360,100 252,000 Total liabilities and equity